2nd Circ. Sends Investor-Citigroup Spat To Ga. Court

Law360, New York (June 3, 2009, 12:00 AM EDT) -- A federal appeals court has ruled that an investor who claimed Citigroup Global Markets Inc. and a top financial adviser fraudulently persuaded him to hold on to his 2 million shares of WorldCom Inc. did not make a case for fraud under Georgia's securities laws, sending his remaining claims to the state's high court.

The U.S. Court of Appeals for the Second Circuit on Wednesday upheld a district court decision that William K. Holmes had failed to state a claim under Georgia's “blue sky” laws, denied...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.